Saipem to incorporate Snam unit

Saipem SPA will reorganize the company's structure by incorporating its wholly owned Snamprogetti SPA unit to improve management efficiency.

Uchenna Izundu
International Editor

LONDON, May 16 -- Saipem SPA will reorganize the company's structure by incorporating its wholly owned Snamprogetti SPA unit to improve management efficiency.

Both of the companies' operations have already been merged. There will be no financial or economic impact, Saipem said.

It plans to finish the consolidation by Sept. 28.

Contact Uchenna Izundu at uchennai@pennwell.com.

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